Deals
Li Ka-Shing’s Hutchison Sells Harbour Ring Control to Oceanwide
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Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa Ltd. sold a 71.4 percent stake in property developer Hutchison Harbour Ring Ltd. to China’s Oceanwide Holdings Co. for HK$3.82 billion ($493 million).
Oceanwide will offer to buy all of Harbour Ring’s shares for 59.73 Hong Kong cents each, according to a joint filing to Hong Kong’s stock exchange yesterday. The stock was unchanged at 72 Hong Kong cents on Nov. 5, its last day of trading.